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Upgrades & Downgrades - April 22
(last updated 4:35pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

AmgenAMGNAG EdwardsMaintain» Accumulate History
Baxter Int'lBAXDeutsche BankAccumulate» Buy History
BellSouthBLSBrown BrosIT Neutral» NT Buy History
Beyond.comBYNDDLJMkt Perform» Buy History
Bristol-MyersBMYLehman BrosNeutral» Outperform History
CR BardBCRING BaringsHold» Buy History
Carriage ServicesCSVMerrill LynchNT Accumulate» NT Buy History
Cerner CorpCERNPreferred Cap MktsHold» Accumulate History
Columbia/HCACOLBT Alex. BrownMkt Perform» Buy History
Columbia/HCACOLSG CowenNeutral» Buy History
Conexant SysCNXTBB Rbrtsn StphnsLT Attractive» Buy History
Conexant SysCNXTMerrill LynchLT Accumulate» LT Buy History
Digital MicrowaveDMICBT Alex. BrownMkt Perform» Buy History
Digital MicrowaveDMICSG CowenNeutral» Buy History
Entrust TechENTUGoldman SachsMkt Perform» Trading Buy History
Exodus CommsEXDSING BaringsBuy» Strong Buy History
Finova GroupFNVLegg MasonOutperform» Buy History
FootstarFTSMerrill LynchNT Neutral» NT Accumulate History
GPU, IncGPUFirst Union Cap MktsOutperform» Buy History
Grupo RadioRCSalomon Smth BrnyNeutral» Buy History
HCIA IncHSIAGruntal & CoHold» Strong Buy -
I2 TechITWOPrudentialAccumulate» Strong Buy History
IDX SysIDXCUSB Piper JaffrayNeutral» Buy History
IKOS SysIKOSNeedham & CoBuy» Strong Buy History
ISS GroupISSXBrown BrosIT Neutral» NT Buy History
ITT EducationalITTCSFBBuy» Strong Buy -
IndyMac MortgageNDEBear StearnsNeutral» Attractive History
IndyMac MortgageNDEMrgn Stnly Dn WttrNeutral» Outperform History
InformixIFMXMerrill LynchNT Neutral» NT Accumulate History
Kimberly-ClarkKMBBrown BrosNeutral» Buy History
Kimberly-ClarkKMBCSFBHold» Buy History
Knight/TrimarkNITEMerrill LynchLT Accumulate» LT Buy History
Lafarge CorpLAFScott & StringfellowHold» LT Buy History
LightbridgeLTBGBB Rbrtsn StphnsLT Attractive» Buy History
LightbridgeLTBGSG CowenNeutral» Buy History
Manufactured HomeMHCBT Alex. BrownBuy» Strong Buy History
MarkWest HydroNRGCIBC OppenheimerHold» Buy History
Navistar Int'lNAVSchroder & CoPerform In Line» Outperform History
New Era of NetworksNEONDain RauscherBuy» Strong Buy History
Northwest NaturalNWNGMerrill LynchNT Neutral» NT Accumulate History
Open TextOTEXMerrill LynchLT Accumulate» LT Buy -
PMI GroupPMIABN AMROOutperform» Buy -
Pacific CenturyBOHStephens IncMkt Outperform» Buy History
Pogo ProducingPPPCSFBHold» Buy History
ProximPROXEVEREN Sec.IT Mkt Perform» IT Outperform History
S3 IncSIIIBB Rbrtsn StphnsMkt Perform» LT Attractive -
SAP AGSAPDeutsche BankUnderperform» Neutral History
SafewaySWYMcDonald InvstHold» Buy History
Service CorpSRVMerrill LynchNT Neutral» NT Accumulate History
Starwood HotelsHOTPaineWebberAttractive» Buy History
Stewart EnterprisesSTEIMerrill LynchNT Accumulate» NT Buy History
Superio TelecomSUTING BaringsBuy» Strong Buy History
Sylvan LearningSLVNDLJMkt Perform» Buy History
TMP WorldwideTMPWNeedham & CoBuy» Strong Buy History
Time WarnerTWXMrgn Stnly Dn WttrOutperform» Strong Buy History
VisioVSIOPacific Crest SecBuy» Strong Buy History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

ADAC LabADACBear StearnsBuy» Neutral History
ADAC LabADACCSFBBuy» Hold History
AmeriCreditACFFriedman BillingsAccumulate» Hold History
Black & DeckerBDKSalomon Smth BrnyBuy» Outperform History
Borders GroupBGPBT Alex. BrownBuy» Mkt Perform History
CellStar CorpCLSTCIBC OppenheimerBuy» Hold History
CellStar CorpCLSTLegg MasonMkt Outperform» Mkt Perform History
CellStar CorpCLSTSands BrosBuy» Neutral History
ChromcraftCRCAG EdwardsAccumulate» Maintain -
Coca-ColaKOBrown BrosNeutral» Avoi History
Columbia/HCACOLStephens IncBuy» Outperform History
Deltek SysDLTKFriedman BillingsBuy» Accumulate History
Expeditors int'lEXPDUSB Piper JaffrayBuy» Neutral History
Hilton HotelsHLTBT Alex. BrownBuy» Mkt Perform History
Incyte PharmINCYFS Van KasperBuy» Neutral History
IngersollIRFirst Union Cap MktsBuy» Outperform History
Lattice SemiLSCCSG CowenNeutral» Underperform History
NewsEDGENEWZFriedman BillingsBuy» Hold History
Paging NetworkPAGEJP MorganBuy» LT Buy History
Sara LeeSLEMerrill LynchNT Accumulate» NT Neutral History
SeaMedSEMDAdvest IncBuy» Mkt Perform History
Simpson ManufacturingSSDMerrill LynchNT Buy» NT Accumulate History
Sports ClubSCYPrudentialAccumulate» Hold History
Starwood HotelsHOTGoldman SachsRecomm. List» Mkt Perform History
Starwood HotelsHOTSchroder & CoOutperform» Perform In Line History
VastarVRICSFBStrong Buy» Buy History
Washington MutualWMJefferies & CoBuy» Accumulate History
X-RiteXRITAG EdwardsBuy» Maintain History
Zions BancZIONMerrill LynchLT Buy» LT Accumulate History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

AFLAC IncAFLBear Stearns» Attractive History
Carey Int'lCARYJefferies & Co» Buy -
CendantCDCSFB» Buy History
CendantCDDLJ» Buy History
Conexant SysCNXTSG Cowen» Strong Buy History
Countrywide CreditCCRAG Edwards» Buy History
Emmis CommsEMMSBB Rbrtsn Stphns» Buy History
Huntington Banc (b)HBANMerrill Lynch» NT Neutral/LT Accum History
Legato SysLGTOGoldman Sachs» Mkt Outperform History
MBIA IncMBIAAdvest Inc» Buy -
Meritor AutoMRAMrgn Stnly Dn Wttr» Outperform History
National FuelNFGCIBC Oppenheimer» Buy -
Newport News (b)NNSMerrill Lynch» NT Accum/ LT Buy History
Pennzoil-QuakerPZLJP Morgan» Buy History
RaychemRYCCSFB» Buy History
ResMedRESMMcDonald Invst» Buy History
RespironicsRESPMcDonald Invst» Hold History
Shoe CarnivalSCVLFS Van Kasper» Buy History
Telefonos de MexicoTMXSalomon Smth Brny» Buy History
Webs JapanEWJSalomon Smth Brny» Accumulate -
ZDNetZDZDLJ» Buy -
iTurfTURFSands Bros» Buy -

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